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Stock impact report

LaSalle Announces $230 Million Expansion of Joint Venture with UDR, Inc. [Yahoo! Finance]

UDR, Inc. (UDR) 
Last udr, inc. earnings: 2/11 04:16 pm Check Earnings Report
US:NYSE Investor Relations: udr.com/investor-relations
Company Research Source: Yahoo! Finance
its joint venture with UDR, Inc. (NYSE: UDR), a leading multifamily real estate investment trust. This transaction increases the total size of the joint venture to approximately $850 million. The expansion adds four apartment communities totaling 974 homes to the joint venture's portfolio, which now comprises 2,564 homes. The newly contributed properties are located in Portland, Orlando, and Richmond, with an average vintage of 1985, broadening the venture's geographic reach. "Our joint venture with UDR has been a strong and successful collaboration since its inception, and we are pleased to continue building on that foundation," said Stuart Sziklas, Global Portfolio Manager, LaSalle Investment Management. "UDR has been an excellent partner that has delivered value through its high-quality operating platform and commitment to innovation. We look forward to finding additional opportunities to grow our relationship." Under the terms of the agreement, LaSalle will hold a 49 percent Show less Read more
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